Two catalogers lose top executives
Article Abstract:
Fingerhut Companies Inc., a Minnetonka, MN-based cataloger, announces the resignation of its chief operating officer, Peter Michielutti, after three years in the post. Michielutti is credited for improving the firm's profitability and leading a move to switch customers from a coupon payment system to a revolving charge account. Michielutti, who left June 25, 1998, states his decision reflected his feelings that his responsibilities and opportunities at the firm will shrink due to the hiring of Bill Lansing as president in May 1998. Similarly, Aurora, IL-based cataloger Successories has also lost its CEO James M. Beltrame on June 27, 1998. Beltrame is credited for leading a turnaround at the firm as seen from the company's first quarter results ending May 8, 1998.
Publication Name: DM News
Subject: Construction and materials industries
ISSN: 0194-3588
Year: 1998
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Fingerhut acquires Arizona mail order
Article Abstract:
Fingerhut Companies Inc. of Minnentonka, MN, a general merchandise cataloger, recently acquired Arizona Mail Order of Tucson, AZ, for what is expected to cost $120 million. Arizona Mail Order sells women's apparel through the Old Pueblo Traders Regalia, Intimate Appeal, Unique Petite and Coward Shoe brand names. The latest acquisition, which brings Fingerhut into the apparel industry, is but one of the several buyouts the company has done or is planning to do to strengthen its market presence. Fingerhut will continue to be on the lookout for potential purchases in other categories that it regards as strong and compatible with its business.
Publication Name: DM News
Subject: Construction and materials industries
ISSN: 0194-3588
Year: 1998
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J. Crew seeks Clifford & Wills buyer
Article Abstract:
J. Crew Group Inc. is considering to divest its Clifford & Wills mail-order and factory-outlet business as it aims to focus more on establishing the J. Crew brand. Clifford & Wills' revenues was not disclosed but the firm states that the catalog's revenues rank in the top 20 ready-to-wear catalogs, while its earnings boosted 50% in 1997. J. Crew has undergone management restructuring, including the appointment of Clifford & Wills president Trudy Sullivan as president of J. Crew Mail Order. Sullivan will be replaced by David Dryer, who served as a consultant to J. Crew mail order since November 1997.
Publication Name: DM News
Subject: Construction and materials industries
ISSN: 0194-3588
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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